The automotive aftermarket market size has grown rapidly in recent years. It will grow from $464.1 billion in 2024 to $533.87 billion in 2025 at a compound annual growth rate (CAGR) of 15%. The growth in the historic period can be attributed to global vehicle ownership growth, cultural shifts towards DIY maintenance, rise in independent repair shops, regulatory changes impacting repairs, vehicle customization trends.
The automotive aftermarket market size is expected to see rapid growth in the next few years. It will grow to $831.84 billion in 2029 at a compound annual growth rate (CAGR) of 11.7%. The growth in the forecast period can be attributed to service-oriented offerings, adoption of advanced materials, digital transformation, vehicle electrification and hybridization, focus on sustainability. Major trends in the forecast period include rise in vehicle age, shift in consumer preference, environmental awareness and sustainable products, rising demand for vehicle accessories, innovation in replacement parts.
Rising sales of both pre-owned and new vehicles are fueling the growth of the automotive aftermarket. For example, in May 2024, the UK Government reported that there were 2.54 million new vehicle registrations in 2023, marking a 16% increase from 2022. This number included 342,000 zero-emission vehicles, which rose by 17%. By the end of December 2023, the total number of licensed vehicles reached 41.2 million, a 1% increase, with 1.02 million being zero-emission vehicles, reflecting a 47% rise. Zero-emission vehicles now account for 2.5% of all road vehicles, an increase of 0.8 percentage points from the previous year. Thus, the growing interest in new and pre-owned vehicles is driving demand in the automotive aftermarket.
The rising demand for spare parts is anticipated to propel the automotive aftermarket in the future. Spare parts are components or items utilized to replace or repair damaged, worn-out, or malfunctioning parts of products or machinery. In the automotive aftermarket, these spare parts play a crucial role in supporting maintenance, repair, and customization activities for vehicles. For instance, in July 2024, The Bureau of Labor Statistics, a U.S.-based federal agency, reported that U.S. motor vehicle parts manufacturing exports reached $60.6 billion in 2023, a 16.3% increase from the previous year. The top six exporting states accounted for 62.5% of this total, with Michigan leading at $11 billion (18.1%), followed by Texas at $8.9 billion (14.6%), and Indiana at $5.3 billion (8.7%). Therefore, the increasing demand for spare parts is set to drive the growth of the automotive aftermarket.
Prominent companies within the automotive aftermarket are strategically focusing on the development of innovative solutions, exemplified by the introduction of the latest aftermarket brake pads. Aftermarket brake pads refer to replacement brake pads manufactured by third-party entities, distinct from the original equipment manufacturer (OEM) parts provided by the vehicle's maker. As of October 2023, Brembo S.p.A., an Italy-based automotive braking systems manufacturer, has announced the launch of the 'Copper Free XTRA' brake pad line. This innovative line is equipped with Low Met and Ceramic NAO formulations, effectively bridging the gap between Brembo's aftermarket and performance lines. The 'Copper Free XTRA' brake pad line offers two distinct variations. The XTRA Low Met line is designed to deliver top-tier performance, enhanced braking capabilities, and an exceptional driving experience tailored for car enthusiasts. On the other hand, the XTRA Ceramic line prioritizes outstanding performance and comfort while minimizing dust generation, ensuring cleaner wheels. This strategic emphasis on innovative brake pad solutions exemplifies major companies' commitment to advancing and diversifying their offerings in the automotive aftermarket sector.
Key players in the automotive aftermarket sector are strategically directing their efforts towards the development of innovative solutions, with a notable focus on eCommerce platforms. An eCommerce platform serves as a digital framework or software solution, empowering businesses to conduct online transactions, sell products or services, and effectively manage their online presence. A case in point is AutoNation, a US-based automotive retailer company, which, in October 2023, unveiled 'AutoNationParts.com' - an eCommerce platform dedicated to auto parts and accessories. This newly launched platform provides customers with a convenient avenue to purchase products at competitive prices and have them delivered directly to their doorstep. 'AutoNationParts.com' offers an extensive selection of authentic manufacturer parts spanning over 25 brands. Customers can easily search for specific parts using criteria such as the vehicle identification number (VIN), year, make, model, trim, and engine, as well as through keywords and part numbers. This strategic move highlights major players' commitment to leveraging eCommerce platforms as part of their innovative solutions in the automotive aftermarket.
In May 2024, MEKO, a manufacturer of precision components based in Sweden, acquired Elit Polska for an undisclosed sum. This acquisition notably boosts MEKO's market share in Poland from about 5% to approximately 8%, making it the third-largest player in the Polish automotive aftermarket. This expansion enables MEKO to solidify its presence in one of Europe’s largest markets for automotive parts and services, thereby enhancing its competitive position. Elit Polska is a manufacturer of automotive accessories and spare parts located in Poland.
Major companies operating in the automotive aftermarket market include Royal Dutch Shell PLC, Robert Bosch GmbH, ZF Friedrichshafen AG, Denso Corporation, Continental AG, Magna International Inc., AISIN SEIKI CO. LTD., Minnesota Mining and Manufacturing Company, Faurecia SE, Valeo SA, Lear Corporation, Goodyear Tire & Rubber Company, Cooper Tire & Rubber Company, Schaeffler AG, BorgWarner Inc., Adient plc, Adient plc, Dana Incorporated, Autoliv Inc., Magneti Marelli S.p.A., Mahle GmbH, DRiV Incorporated, Hella GmbH & Co. KGaA, Delphi Technologies PLC, Visteon Corporation, Garrett Motion Inc., Meritor Inc., Gentex Corporation, Exide Technologies Inc., Federal-Mogul LLC, Knorr-Bremse AG, Osram Licht AG, Veoneer Inc., WABCO Holdings Inc.
Asia-Pacific was the largest region in the automotive aftermarket market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive aftermarket market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the automotive aftermarket market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The automotive aftermarket represents the secondary sector within the automotive industry, focusing on the production, distribution, retail, and fitting of diverse vehicle components, tools, machinery, and enhancements intended for both light and heavy vehicles, following the initial sale of the automobile by the original equipment manufacturer (OEM). Referred to as aftermarket parts, they are alternatively termed generic or non-OEM parts, manufactured by entities distinct from the vehicle's original maker. These components serve identical functions as the original parts and are viable replacements during repair and maintenance operations.
The automotive aftermarket market primarily comprises product categories such as tires, batteries, brake components, filters, body parts, lighting and electronic elements, wheels, exhaust parts, and turbochargers. These diverse products play essential roles in the maintenance and repair of automobiles. In terms of certification, they fall into three main categories such as genuine parts, certified parts, and uncertified parts. Their application extends predominantly to passenger cars and commercial vehicles. Distribution of these products primarily occurs through offline retail outlets and online distribution channels.
The automotive aftermarket research report is one of a series of new reports that provides automotive aftermarket statistics, including automotive aftermarket industry global market size, regional shares, competitors with automotive aftermarket share, detailed automotive aftermarket segments, market trends and opportunities, and any further data you may need to thrive in the automotive aftermarket industry. This automotive aftermarket research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The automotive aftermarket includes revenue earned by entities by vehicle parts, equipment, replacement tires, service repair, collision repair and accessories. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The automotive aftermarket market size is expected to see rapid growth in the next few years. It will grow to $831.84 billion in 2029 at a compound annual growth rate (CAGR) of 11.7%. The growth in the forecast period can be attributed to service-oriented offerings, adoption of advanced materials, digital transformation, vehicle electrification and hybridization, focus on sustainability. Major trends in the forecast period include rise in vehicle age, shift in consumer preference, environmental awareness and sustainable products, rising demand for vehicle accessories, innovation in replacement parts.
Rising sales of both pre-owned and new vehicles are fueling the growth of the automotive aftermarket. For example, in May 2024, the UK Government reported that there were 2.54 million new vehicle registrations in 2023, marking a 16% increase from 2022. This number included 342,000 zero-emission vehicles, which rose by 17%. By the end of December 2023, the total number of licensed vehicles reached 41.2 million, a 1% increase, with 1.02 million being zero-emission vehicles, reflecting a 47% rise. Zero-emission vehicles now account for 2.5% of all road vehicles, an increase of 0.8 percentage points from the previous year. Thus, the growing interest in new and pre-owned vehicles is driving demand in the automotive aftermarket.
The rising demand for spare parts is anticipated to propel the automotive aftermarket in the future. Spare parts are components or items utilized to replace or repair damaged, worn-out, or malfunctioning parts of products or machinery. In the automotive aftermarket, these spare parts play a crucial role in supporting maintenance, repair, and customization activities for vehicles. For instance, in July 2024, The Bureau of Labor Statistics, a U.S.-based federal agency, reported that U.S. motor vehicle parts manufacturing exports reached $60.6 billion in 2023, a 16.3% increase from the previous year. The top six exporting states accounted for 62.5% of this total, with Michigan leading at $11 billion (18.1%), followed by Texas at $8.9 billion (14.6%), and Indiana at $5.3 billion (8.7%). Therefore, the increasing demand for spare parts is set to drive the growth of the automotive aftermarket.
Prominent companies within the automotive aftermarket are strategically focusing on the development of innovative solutions, exemplified by the introduction of the latest aftermarket brake pads. Aftermarket brake pads refer to replacement brake pads manufactured by third-party entities, distinct from the original equipment manufacturer (OEM) parts provided by the vehicle's maker. As of October 2023, Brembo S.p.A., an Italy-based automotive braking systems manufacturer, has announced the launch of the 'Copper Free XTRA' brake pad line. This innovative line is equipped with Low Met and Ceramic NAO formulations, effectively bridging the gap between Brembo's aftermarket and performance lines. The 'Copper Free XTRA' brake pad line offers two distinct variations. The XTRA Low Met line is designed to deliver top-tier performance, enhanced braking capabilities, and an exceptional driving experience tailored for car enthusiasts. On the other hand, the XTRA Ceramic line prioritizes outstanding performance and comfort while minimizing dust generation, ensuring cleaner wheels. This strategic emphasis on innovative brake pad solutions exemplifies major companies' commitment to advancing and diversifying their offerings in the automotive aftermarket sector.
Key players in the automotive aftermarket sector are strategically directing their efforts towards the development of innovative solutions, with a notable focus on eCommerce platforms. An eCommerce platform serves as a digital framework or software solution, empowering businesses to conduct online transactions, sell products or services, and effectively manage their online presence. A case in point is AutoNation, a US-based automotive retailer company, which, in October 2023, unveiled 'AutoNationParts.com' - an eCommerce platform dedicated to auto parts and accessories. This newly launched platform provides customers with a convenient avenue to purchase products at competitive prices and have them delivered directly to their doorstep. 'AutoNationParts.com' offers an extensive selection of authentic manufacturer parts spanning over 25 brands. Customers can easily search for specific parts using criteria such as the vehicle identification number (VIN), year, make, model, trim, and engine, as well as through keywords and part numbers. This strategic move highlights major players' commitment to leveraging eCommerce platforms as part of their innovative solutions in the automotive aftermarket.
In May 2024, MEKO, a manufacturer of precision components based in Sweden, acquired Elit Polska for an undisclosed sum. This acquisition notably boosts MEKO's market share in Poland from about 5% to approximately 8%, making it the third-largest player in the Polish automotive aftermarket. This expansion enables MEKO to solidify its presence in one of Europe’s largest markets for automotive parts and services, thereby enhancing its competitive position. Elit Polska is a manufacturer of automotive accessories and spare parts located in Poland.
Major companies operating in the automotive aftermarket market include Royal Dutch Shell PLC, Robert Bosch GmbH, ZF Friedrichshafen AG, Denso Corporation, Continental AG, Magna International Inc., AISIN SEIKI CO. LTD., Minnesota Mining and Manufacturing Company, Faurecia SE, Valeo SA, Lear Corporation, Goodyear Tire & Rubber Company, Cooper Tire & Rubber Company, Schaeffler AG, BorgWarner Inc., Adient plc, Adient plc, Dana Incorporated, Autoliv Inc., Magneti Marelli S.p.A., Mahle GmbH, DRiV Incorporated, Hella GmbH & Co. KGaA, Delphi Technologies PLC, Visteon Corporation, Garrett Motion Inc., Meritor Inc., Gentex Corporation, Exide Technologies Inc., Federal-Mogul LLC, Knorr-Bremse AG, Osram Licht AG, Veoneer Inc., WABCO Holdings Inc.
Asia-Pacific was the largest region in the automotive aftermarket market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive aftermarket market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the automotive aftermarket market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The automotive aftermarket represents the secondary sector within the automotive industry, focusing on the production, distribution, retail, and fitting of diverse vehicle components, tools, machinery, and enhancements intended for both light and heavy vehicles, following the initial sale of the automobile by the original equipment manufacturer (OEM). Referred to as aftermarket parts, they are alternatively termed generic or non-OEM parts, manufactured by entities distinct from the vehicle's original maker. These components serve identical functions as the original parts and are viable replacements during repair and maintenance operations.
The automotive aftermarket market primarily comprises product categories such as tires, batteries, brake components, filters, body parts, lighting and electronic elements, wheels, exhaust parts, and turbochargers. These diverse products play essential roles in the maintenance and repair of automobiles. In terms of certification, they fall into three main categories such as genuine parts, certified parts, and uncertified parts. Their application extends predominantly to passenger cars and commercial vehicles. Distribution of these products primarily occurs through offline retail outlets and online distribution channels.
The automotive aftermarket research report is one of a series of new reports that provides automotive aftermarket statistics, including automotive aftermarket industry global market size, regional shares, competitors with automotive aftermarket share, detailed automotive aftermarket segments, market trends and opportunities, and any further data you may need to thrive in the automotive aftermarket industry. This automotive aftermarket research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The automotive aftermarket includes revenue earned by entities by vehicle parts, equipment, replacement tires, service repair, collision repair and accessories. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Automotive Aftermarket Market Characteristics3. Automotive Aftermarket Market Trends and Strategies4. Automotive Aftermarket Market - Macro Economic Scenario Macro Economic Scenario Including the Impact of Interest Rates, Inflation, Geopolitics and Covid and Recovery on the Market32. Global Automotive Aftermarket Market Competitive Benchmarking and Dashboard33. Key Mergers and Acquisitions in the Automotive Aftermarket Market34. Recent Developments in the Automotive Aftermarket Market
5. Global Automotive Aftermarket Growth Analysis and Strategic Analysis Framework
6. Automotive Aftermarket Market Segmentation
7. Automotive Aftermarket Market Regional and Country Analysis
8. Asia-Pacific Automotive Aftermarket Market
9. China Automotive Aftermarket Market
10. India Automotive Aftermarket Market
11. Japan Automotive Aftermarket Market
12. Australia Automotive Aftermarket Market
13. Indonesia Automotive Aftermarket Market
14. South Korea Automotive Aftermarket Market
15. Western Europe Automotive Aftermarket Market
16. UK Automotive Aftermarket Market
17. Germany Automotive Aftermarket Market
18. France Automotive Aftermarket Market
19. Italy Automotive Aftermarket Market
20. Spain Automotive Aftermarket Market
21. Eastern Europe Automotive Aftermarket Market
22. Russia Automotive Aftermarket Market
23. North America Automotive Aftermarket Market
24. USA Automotive Aftermarket Market
25. Canada Automotive Aftermarket Market
26. South America Automotive Aftermarket Market
27. Brazil Automotive Aftermarket Market
28. Middle East Automotive Aftermarket Market
29. Africa Automotive Aftermarket Market
30. Automotive Aftermarket Market Competitive Landscape and Company Profiles
31. Automotive Aftermarket Market Other Major and Innovative Companies
35. Automotive Aftermarket Market High Potential Countries, Segments and Strategies
36. Appendix
Executive Summary
Automotive Aftermarket Global Market Report 2025 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on automotive aftermarket market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for automotive aftermarket? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The automotive aftermarket market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Types: Tire; Battery; Brake Parts; Filters; Body Parts; Lighting and Electronic Components; Wheels; Exhaust Components; Turbochargers2) By Vehicle Type: Passenger Cars; Commercial Vehicles
3) By Certification Outlook: Genuine Parts; Certified Parts; Uncertified Parts
4) By Distribution Channels: Offline Distribution Channel; Online Distribution Channel
Subsegments:
1) By Tire: All-Season Tires; Performance Tires; Winter Tires; Off-Road Tires2) By Battery: Lead-Acid Batteries; Lithium-Ion Batteries; AGM (Absorbent Glass Mat) Batteries; Deep Cycle Batteries
3) By Brake Parts: Brake Pads; Brake Rotors; Brake Calipers; Brake Hoses
4) By Filters: Engine Air Filters; Cabin Air Filters; Oil Filters; Fuel Filters
5) By Body Parts: Bumpers; Fenders; Hoods; Doors; Mirrors
6) By Lighting and Electronic Components: Headlights; Taillights; Turn Signal Lights; Electrical Systems
7) By Wheels: Alloy Wheels; Steel Wheels; Wheel Covers; Wheel Spacers
8) By Exhaust Components: Exhaust Pipes; Mufflers; Catalytic Converters; Exhaust Manifolds; Turbochargers
9) By Stock Turbochargers: Performance Turbochargers; Turbo Kits
Key Companies Mentioned: Royal Dutch Shell PLC; Robert Bosch GmbH; ZF Friedrichshafen AG; Denso Corporation; Continental AG
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
- Royal Dutch Shell PLC
- Robert Bosch GmbH
- ZF Friedrichshafen AG
- Denso Corporation
- Continental AG
- Magna International Inc.
- AISIN SEIKI CO. LTD.
- Minnesota Mining and Manufacturing Company
- Faurecia SE
- Valeo SA
- Lear Corporation
- Goodyear Tire & Rubber Company
- Cooper Tire & Rubber Company
- Schaeffler AG
- BorgWarner Inc.
- Adient plc
- Adient plc
- Dana Incorporated
- Autoliv Inc.
- Magneti Marelli S.p.A.
- Mahle GmbH
- DRiV Incorporated
- Hella GmbH & Co. KGaA
- Delphi Technologies PLC
- Visteon Corporation
- Garrett Motion Inc.
- Meritor Inc.
- Gentex Corporation
- Exide Technologies Inc.
- Federal-Mogul LLC
- Knorr-Bremse AG
- Osram Licht AG
- Veoneer Inc.
- WABCO Holdings Inc.
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 200 |
Published | March 2025 |
Forecast Period | 2025 - 2029 |
Estimated Market Value ( USD | $ 533.87 Billion |
Forecasted Market Value ( USD | $ 831.84 Billion |
Compound Annual Growth Rate | 11.7% |
Regions Covered | Global |
No. of Companies Mentioned | 34 |